Welcome to Cryptonix, your new partner in crime for keeping up with a daily
lifestyle of relaxing and watching Netflix. Let us first tell you something about crypto. During the
first seven months of 2018 the price of bitcoin collapsed 53%—a fall supposedly triggered by concerns
over regulation, exchange hacks and a general slowdown in trading. For most, the decline was a disaster,
wrecking small fortunes invested in the burgeoning cryptocurrency market. For others, the plunge since
December 2017 triggered a windfall, conveniently coinciding with the creation of the first mainstream
methods of betting against bitcoin. Bitcoin futures meant that people like us, for the first time, could
bet on a bitcoin price decline, buying and selling contracts with a lower delivery price in the future
than the price today. The advantage is that these futures markets also don’t rely on having to get
involved in the messy business of actually buying, holding and selling cryptocurrencies.

Why’s that important you might wonder. Banks are not keen on letting another player
enter the game so we knew they would do everything to stop crypto from growing up. Just think about all
the bitcoin supported credit cards that had to stop their operations. Well, while others were hoping for
a big return on crypto by investing as much as they could, we did not. Instead we sold bitcoin futures
contracts.